ClearBridge Investments, an funding administration firm, launched its “ClearBridge Giant Cap Development Technique” second quarter 2022 investor letter. A duplicate of the identical might be downloaded right here. The second quarter was troublesome for progress funds, and the fund underperformed the benchmark index. Solely the buyer staples sector contributed positively to the fund’s efficiency. To know in regards to the fund’s finest picks in 2022, please verify its high 5 holdings.

Within the second quarter, ClearBridge Giant Cap Development Technique decreased its stake in Alibaba Group Holding Restricted (NYSE:BABA). Alibaba Group Holding Restricted (NYSE:BABA) is predicated in Hangzhou, the Individuals’s Republic of China, and has a market capitalization of $250.713 billion. The inventory of Alibaba Group Holding Restricted (NYSE:BABA) closed at $92.56 per share on August 5, 2022. Alibaba Group Holding Restricted (NYSE:BABA) had a return of -23.44% for the previous month whereas its 12-month returns plunged to -52.87%

Here’s what ClearBridge Giant Cap Development Technique particularly stated about Alibaba Group Holding Restricted (NYSE:BABA) in its Q2 2022 investor’s letter:

Alibaba Group Holding Restricted (NYSE:BABA) is in 19^th place within the record of 30 Most In style Shares Amongst Hedge Funds. On the finish of the primary quarter, Alibaba Group Holding Restricted (NYSE:BABA) was in 100 hedge fund portfolios up from 96 within the earlier quarter.

We mentioned Alibaba Group Holding Restricted (NYSE:BABA) in one other article and shared Artisan Companions’ views on the corporate. If you wish to learn extra investor letters from hedge funds and different main traders, try our hedge fund investor letters Q2 2022 web page.

Disclosure: None. This text is initially printed at Insider Monkey.